23rd Dec 2025 12:05
(Alliance News) - European equities were mixed on Tuesday afternoon, in listless trade in the final full trading day of the week, as eyes turn to US data later.
US gross domestic product data at 1330 GMT is expected to show growth eased to 3.2% on an annualised basis quarter-on-quarter, from 3.8% in the second quarter. Eyes will also be on a less backward-looking indicator, with a consumer confidence reading for December released at 1500 GMT.
Financial markets in the US and Europe will have an abbreviated trading day on Wednesday. Markets in New York re-open on Friday. London, Frankfurt and Paris will not re-open until Monday.
The FTSE 100 index was down just 0.45 of a point at 9,865.52. The FTSE 250 was up 14.64 points, 0.1%, at 22,357.36, and the AIM All-Share was down only 0.20 of a point at 760.28.
The Cboe UK 100 was down 0.1% at 989.15, the Cboe UK 250 was 0.1% higher at 19,462.03, and the Cboe Small Companies was up 0.2% at 17,345.32.
The CAC 40 in Paris was down 0.2% and Frankfurt's DAX 40 was up 0.1%.
"Coming off the back of a period of strength that has seen the DAX gain 4% in a month, European stock markets appear to have entered a period of consolidation as we head into the final trading days of 2025. Nonetheless with the Santa rally period traditionally taking place over the final five days of the year investors will be hoping that the bulls are gathering momentum for a final push tomorrow onwards. With data relatively thin on the ground in Europe, the focus will instead be on the US given the impending release of GDP, core durable goods, and consumer confidence figure," Scope Markets analyst Joshua Mahony commented.
The pound advanced to USD1.3509 midday Tuesday, from USD1.3452 at the time of the London equities close on Monday. It traded as high as USD1.3518, its best level since the start of October. The euro climbed to USD1.1795 from USD1.1759. Against the yen, the buck fell to JPY155.94 from JPY156.95.
A barrel of Brent was up at USD62.07 from USD61.87. Gold rose to USD4,486.02 an ounce from USD4,440.54, after hitting a record high above USD4,497 earlier Tuesday.
Exness analyst Li Xing commented: "Gold extended its rally on Tuesday, as escalating geopolitical tensions and a softer dollar reinforced demand for safe-haven assets. Geopolitical risks have intensified across multiple fronts. Tensions between the US and Venezuela escalated further, following two tanker seizures this month. In Asia, frictions between China and Japan remain elevated. Meanwhile, risks in Eastern Europe continue to rise, eroding hopes for a near-term ceasefire, while instability in the Middle East persists.
"Beyond geopolitics, gold continues to benefit from a weaker dollar as expectations of US monetary easing weigh on the currency and treasury yields. Markets currently expect the Federal Reserve to keep rates unchanged in January, but still price in two cuts by the end of 2026."
The yield on the US 10-year Treasury was quoted at 4.14% midday Tuesday, narrowing from 4.17% at the time of the closing bell on the London Stock Exchange on Monday. The 30-year yield narrowed to 4.81% from 4.83%.
In New York, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are called to open flat.
In London, Metlen Energy & Metals was the best FTSE 100 performer, rising 2.9%. It said it has completed the sale of a portfolio of solar farms and co-located battery energy storage systems in Chile to a subsidiary of Glenfarne Group at enhanced terms.
Metlen is an Athens-based aluminium producer and electricity generator. Glenfarne is a New York- and Houston-based developer, owner, operator, and industrial manager of energy and infrastructure assets.
In April, Metlen had said Glenfarne unit GAC RS Chile II Spa would pay USD815 million for the assets.
On Tuesday, Metlen said the final price to be paid is USD865 million, reflecting the "value creation opportunities emerging in the Chilean market".
Metlen shares traded at EUR42.40 on Tuesday afternoon, down 10% from its EUR47.16 initial public offering price.
Videndum slumped 55%. The provider of broadcasting hardware and software said a planned refinancing will, if successful, see current shareholdings "very significantly diluted", while completion is also not guaranteed.
Videndum said the main components of a refinancing proposal have now been agreed in-principle with the revolving credit facility lenders and its two largest shareholders.
This comprises a firm placing, placing and open offer to raise around GBP70 million, backed by its two largest institutional shareholders and the exchange of GBP23 million of RCF debt for shares in Videndum for Polus Capital, a private credit lender.
In addition, Videndum plans to repay GBP50 million of the group's existing revolving credit facility, with the balance of the RCF to be restructured.
As a result of the refinancing, pro-forma net debt as at November 30 would have been around GBP52 million, including GBP26.5 million of finance leases, representing a reduction in net debt of more than GBP90 million.
Over in Copenhagen, Novo Nordisk shares surged 7.5%. It announced that the US Food & Drug Administration approved its once-daily Wegovy pill, the first oral glucagon-like peptide-1 therapy cleared for weight management. The pill is indicated to reduce excess body weight, maintain long-term weight loss and lower the risk of major adverse cardiovascular events.
"This is a significant breakthrough given the reluctance of some people to use the existing injectable option and it could help the company win back market share from Lilly. Novo expects to be ready for a full launch in January," AJ Bell analyst Russ Mould commented.
"It won't have this market to itself for long, as Eli Lilly's own pill looks set to receive regulatory approval in the near future after positive results from its latest trial. However, this is a boost for new Novo boss Mike Doustdar as he looks to revive the company's fortunes."
Eli Lilly was down 1.1% in pre-market dealings in New York.
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Videndum PlcMetlen Energy